Americans Just Blew $15 Billion On Pickups In A Single Month – Carscoops
Average new car prices just hit another record, but it’s not just inflation to blame, as buyers are leaning into pickups, luxury, and higher costs
New vehicle prices traditionally peak in December, but last month they really boomed, the average transaction price (ATP) in America reaching an all-time high after breaking the $50,000 barrier for the first time in September of 2025. And it was trucks, appropriately enough, that did the heavy lifting.
Kelley Blue Book says the average transaction price for a new vehicle climbed to $50,326 in the final month of 2025, up 0.8 percent year on year and up 1.1 percent from November. Americans’ desire to put a pickup on their driveway helped fuel that growth, with drivers splurging a staggering $15 billion on full-size trucks in December alone.
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Jumbo pickups including the Ford F-150 and Chevy Silverado had an averaged price of $66,386 in December, according to Cox Automotive’s data, that average a modest 1.9 percent higher than the previous December. But over 233,000 of them were sold, turning the segment into a kind of economic leaf blower that pushed the entire industry’s average higher.
Choosing luxury
That truck performance confirms that average prices aren’t simply rising because everything naturally gets more expensive, even when inflation is low. They’re rising because buyers are choosing more expensive stuff. Nearly 20 percent of shoppers went for luxury rides in December, according to Cox and that doesn’t even include high-end trucks, which increasingly behave like luxury vehicles with bed liners.
December’s $50,326 ATP, by the way, reflects what buyers are actually paying at the dealership. It wasn’t the only number to hit a new high. The average new-vehicle manufacturer’s suggested retail price (MSRP), often referred to as the “asking price,” also set a record last month, reaching $52,627. That figure is 1.2 percent higher than it was in December 2024. Notably, the average MSRP has stayed above $50,000 for eight straight months.
The industry average incentive rose to 7.5 percent of transaction price, higher than November but lower than last year and far lower than pre-covid levels. That means the sticker shock is real regardless of the difference between ATP and MSRP.
“We typically see elevated prices in December, as the market delivers a strong mix of high-end and luxury vehicle sales,” said Cox Automotive Executive Analyst Erin Keating. “It’s important to remember, the Kelley Blue Book ATP is a reflection of what was sold in a given month, not what is available. Last month, nearly 20% of shoppers bought luxury, a peak for 2025 – and that doesn’t include the volume of high-end pickups that were snapped up by affluent shoppers.”
Big EV Incentives
On the electric front it was a mixed bag, which is hardly surprising given how much uncertainty tariffs and the loss of tax credits has injected into a segment whose growth has slowed. Average EV transaction prices dipped slightly from November but stayed higher than a year ago at just over $58,000 on average.
But much more generous incentives – a record 18 percent, more than twice that for combustion cars – must have played a big role in pushing monthly electric sales above 84,000 units in December. That last figure is the best since credits were axed in September, but 2025’s total EV sales of around 1.28 million is down 2 percent on 2024, Cox analysts say.
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Chris is a seasoned automotive journalist with over two decades of experience. He has worked… Read full bio
